NexGen Energy (NYSE:NXE) Given Average Rating of “Moderate Buy” by Brokerages

Shares of NexGen Energy (NYSE:NXE) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company.

NXE has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th. Finally, UBS Group assumed coverage on NexGen Energy in a research report on Thursday, March 5th. They set a “buy” rating for the company.

NexGen Energy Trading Down 0.4%

NYSE NXE opened at $11.04 on Monday. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $13.96. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -29.04 and a beta of 1.41. The company’s 50 day moving average is $12.14 and its two-hundred day moving average is $10.12.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Sell-side analysts forecast that NexGen Energy will post -0.05 EPS for the current year.

Hedge Funds Weigh In On NexGen Energy

Several hedge funds have recently modified their holdings of NXE. L1 Capital Pty Ltd boosted its holdings in shares of NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock valued at $234,683,000 after purchasing an additional 3,171,558 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NexGen Energy by 4.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock worth $274,103,000 after purchasing an additional 1,189,516 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of NexGen Energy by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after buying an additional 5,523,932 shares in the last quarter. Vanguard Group Inc. boosted its stake in NexGen Energy by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock valued at $226,901,000 after buying an additional 3,304,071 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in NexGen Energy by 97.8% during the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock valued at $90,718,000 after buying an additional 5,011,890 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.